ITV

Category: Movies On Mutiple Platforms

  • Jio Studios puts the Jio in content business

    Mumbai: In an event held at the Jio World Convention Centre in Mumbai, Jio Studios, the media and content arm of Reliance Industries Ltd., for the first time has unveiled its spectacular content slate, the single largest slate ever produced by an Indian studio in any given year. The studio has lined up ready to release over 100+ stories across genres of films and original web series in multiple languages including Hindi, Marathi, Bengali, Gujarati, South and Bhojpuri, capturing every emotion and genre of storytelling – Action, Drama, Thriller, Comedy, Romance, Biopics, Horror, Musicals et al. 

    The depth and width of this marquee offering promises to be a game-changer in the world of Indian entertainment, delivering high quality content that is both entertaining and thought provoking, with unheard of scale. This has been achieved through meticulous collaboration with some of the best creative minds in the country including Raj Kumar Hirani, Sooraj Barjatya, Dinesh Vijan, Ali Abbas Zafar, Aditya Dhar, Prakash Jha, Amar Kaushik, Laxman Utekar to name a few, featuring stories with some superstars as well as new talent, be it actors or filmmakers. 

    RIL Media and content business president Jyoti Deshpande commented, “We are in the most exciting and eventful phase of Indian entertainment, with storytelling taking centre stage in an era of explosive digital disruption. Since its inception five years ago, Jio Studios has worked very hard to lay solid foundations in scaling what is traditionally a very fragmented industry. We have actively partnered with some of the best names in the business and newcomers alike to reach this day, when a staggering and exciting 100 content assets have been produced, ready to be showcased to the world.”

    “Our vision is to power stories that are from, by and for India and Bharat, tell stories that not only entertain but also have purpose, partner with storytellers in every Indian language and take these stories mainstream. Our mission to Make in India and Show the World is vast and inclusive and will ensure the growth of the entire entertainment value chain.  The future holds infinite possibilities, and this occasion marks a new chapter in our journey to give wings to the greatest stories ever told and champion the creative excellence of incredible storytellers,” concluded Deshpande. 

    The film line-up includes Dunki (Shah Rukh Khan), Bloody Daddy (Shahid Kapoor), Bhediya 2 (Varun Dhawan) , Bhul Chuk Maaf (Kartik Aryan & Shraddha Kapoor), Untitled (Shahid Kapoor & Kriti Sanon) Stree 2 (Rajkummar Rao & Shraddha Kapoor), Section 84 (Amitabh Bachchan), Hisaab Barabar (R Madhavan), Zara Hatke Zara Bachke (Vicky Kaushal & Sara Ali Khan), BlackOut (Vikrant Massey & Mouni Roy), Mumbaikar (Vijay Sethupathi), The Storyteller (Paresh Rawal & Adil Hussain), Dhoom Dhaam (Pratik Gandhi & Yami Gautam), Empire (Taapsee Pannu & Arvind Swamy), to name just a few. 

    Jio Studios has further produced in its mix of web originals, riveting sagas with powerhouse talent. These include Laal Batti, a political thriller helmed by Prakash Jha (marking Nana Patekar’s debut in OTT & Sanjay Kapoor), Union: The Making of India (Kay Kay Menon, Ashutosh Rana & a stellar ensemble cast), Inspector Avinash (Randeep Hooda & Urvashi Rautela), Rafuchakkar (Maniesh Paul’s debut in OTT), Bajao (Rapper Raftaar’s OTT debut), The Magic of Shiri (Divyanka Tripathi), Doctors (Sharad Kelkar), A Legal Affair (Barkha Singh & Angad Bedi) and many more. Additionally, the studio has built a Mini-Originals slate showcasing slice-of-life content that includes Ishq Next Door (Abhay Mahajan & Natasha Bharadwaj), Do Gubbare (Mohan Agashe & Siddharth Shaw) and Hajamat (Sanjay Mishra & Anshumaan Pushkar).

    Jio Studios has invested significantly in building a vast local content repertoire and is set to dominate the regional space as well with a slew of captivating stories across languages. It has a noteworthy Marathi slate with Baipan Bhari Deva (Rohini Hattangadi, Vandana Gupte, Sukanya Kulkarni), Four Blind Men (Ankush Chaudhari), 1234 (Vaidehi Parshurami and Nipun Dharmadhikari), Kharvas (Sandesh Kulkarni), Kaata Kirrr (Priyadarshan Jadhav), Khashaba (Nagraj Manjule) and is arguably the only content company to invest in premium Marathi web original series like Kaalsutra (Subodh Bhave and Sayaji Shinde), Eka Kaleche Mani (Prashant Damle) and Aga Aai Aho Aai (Renuka Shahane and Hruta Durgule). 

    Jio Studios has also announced one of the biggest deals in the Bengali market by entering into a multi-year, multi film collaboration with SVF Entertainment, the powerhouse of Bengali cinema to create a new era of blockbusters. The upcoming films in this partnership will include top of the line talent such as Mithun Chakraborty, Prosenjit Chatterjee, Jisshu Sengupta and makers Dhrubo Banerjee, Raj Chakraborty, Anirban Bhattacharya, Srijit Mukherji, Suman Ghosh to name a few.   

    The studio is also backing Gujarati cinema and will present an interesting line up including Bachubhai (Siddharth Randeria), Chaandlo (Kaajal Oza Vaidya, Manav Gohil & Shraddha Dangar) & Ghulam Chor (Malhar Thakkar). 

  • Art meets tech in the Media.Monks open house as they successfully decode virtual production

    Mumbai: Media.Monks India, global creative and tech production company, has successfully hosted the first-of-its-kind virtual production open house in collaboration with Unreal Engine and ARK Solutions NCAM. The full day event was held in their Noida studio, bringing together filmmakers to explore virtual production and its potential to change the landscape of Indian cinema. With multiple virtual production films under their belt, MM took the audience through their approaches, and their learnings from these experiences – breaking down each scene from virtual assets to physical sets and premiered a live demo of multiple scenes from a recently shot film, highlighting their impressive capabilities.

    Virtual Production merges live-action footage with computer-generated imagery (CGI) in real-time, offering filmmakers unprecedented creative control over their films. By reducing post-production time and costs, it’s a popular choice worldwide.

    Over 100 filmmakers from major production houses and independent filmmakers from Mumbai, Bangalore, Delhi, Chennai and Hyderabad attended the hands-on event, which showcased the latest virtual production innovations. It was an opportunity to test and understand the magic behind virtual production and interact with the team and tech.

    Adding to this MM’s CCO- art & tech, John Paite says, “We’re very excited by the overwhelming support and interest shown by some of the most celebrated and established filmmakers in the country. The film industry is highly competitive so it was an extremely refreshing and unique experience to be able to interact and work together on something that has the potential to change our industry for the better.”

    MD Robert Godinho further added, “ The event was well accepted and we saw a lot of potential collaborations and learning emerge from it. In line with the Media.Monks vision we intend to do more such open houses across the country, sharing our learnings on Art-Tech developments and of course learning a lot on the way from industry specialists. The goal would be to have a platform for artists to collaborate and further build our vision of an artist first community.”

    The event had Whistling Woods, one of Asia’s premier film, communication and creative arts institute CTO – Chaitanya Chinchlikar, as their guest speaker who spoke about the VP industry globally and how VP is the need of the hour.

    The virtual production open house was evidence that collaboration between different skill sets is not only possible but preferable for creating groundbreaking work. SVP Growth – the curator of this event – Gayatri Sethi mentioned, “Great work is inevitable when great minds come together. With Media.Monks India’s passion for creative collaboration, India’s most creative minds now have access to the latest filmmaking innovations and experts to take their vision to the next level. The only limitation now is their imagination.”

  • Cinepolis opens its biggest multiplex in Delhi with Kartik Aryan

    Mumbai: Cinépolis, first international cinema exhibitor in India, has announced the launch of Cinépolis Pacific Mall, NSP, Pitampura along with bollywood actor Kartik Aryan. With the strategic move of opening multiplexes at prime locations, launch of its biggest multiplex in Delhi, Cinépolis NSP in Pacific Mall, Pitampura will further strengthen its positioning among its customers and associates in the premium luxury multiplex industry.

    The launch of this biggest multiplex will create an unmissable and exhilarating cinematic experience for the patrons of New Delhi with its completely new architectural design look in Black and Golden. With its unmatched technology and comfortable ambience, it will certainly be the favorite spot for movie lovers. Cinépolis Pacific Mall is the biggest theatre by Cinepolis in Delhi with 9 screens and a luxury last row in all auditoriums with premium recliners. In addition, the multiplex will also have full service Coffee Tree (gourmet café), DOLBY Atmos audio, Harkness Screens and RealD 3D technology, giving excellent premium ambience and experience to patrons.

    Speaking on this occasion Cinépolis India CEO Devang Sampat said, “Cinépolis has always aimed at offering an unmatched experience to movie patrons, the opening of Cinépolis Pacific Mall, NSP, Pitampura has endorsed our commitment towards them. This is our flagship property, our biggest multiplex in Delhi with 9 screens which will take the entertainment value to the next level. We are expecting a huge footfall at the multiplex and are sure that patrons will be amazed by the experience at Cinépolis.  Our cutting-edge technology combined with quality and distinctively comfortable ambience sets us apart and we are committed to provide the same world class cinema viewing experience to our discerning patrons across India. I would like to thank Mr. Abhishek Bansal for giving Cinepolis an opportunity to develop our multiplex in Pacific Mall. His team has been very successful in developing and running high-footfall malls and I’m sure they will continue to build upon the same in the future as well.”  

    He further added, “The opening of Cinépolis Pacific Mall, NSP, Pitampura is of significant strategic value that further strengthens our position in India. Looking forward and expanding our wings, the focus now is to open more multiplexes in prime locations in metros and mini-metros. India is an important market for us  and the strategic importance of the market is underscored by the fact that Cinépolis’ expansion plans have been steadfast even through the pandemic wherein Cinépolis added 42 screens. It is our constant endeavor to upgrade the cinematic experience by bringing the latest technology and customer engagement into the industry.”  

    Pacific Development Corporation Ltd executive director Abhishek Bansal said, “We are happy to have an iconic and world-class cinema chain – Cinépolis now being part of Pacific Mall, Pitampura. The mall is situated in the most premium location in North Delhi and we associate with the best of the brands in the business. We hope that Cinépolis in its new version will complement the mall and we look forward to an entertaining journey ahead.”

     

  • PVR opens 3 new multiplexes in Jaipur, Bengaluru and Gurugram

    PVR opens 3 new multiplexes in Jaipur, Bengaluru and Gurugram

    Mumbai: Multiplex operator PVR Cinemas has reached 900 screens in its 25-year journey across 181 properties in 78 cities. PVR has opened three new multiplexes in Jaipur, Bengaluru, and Gurugram, with a total of 19 screens. The opening of these cinemas is in accordance with the expansion strategy of the company to open over 100 screens in the current financial year.

    Adding a new city to its national circuit, PVR marks its debut in Jaipur with the launch of its eight-screen multiplex, the largest in Rajasthan, unveiling its fourth property while introducing premium screen formats like 4DX and Luxe for the first time in the state. The property located at the Mall of Jaipur has a seating capacity of 944 audiences with recliners and theatrical solutions including SP4K laser projectors, Dolby Atmos audio, and 3D technology.

    Further expanding its footprints across the country, PVR announces the opening of its 13th property in Bengaluru and 17th in the state of Karnataka with a seven-screen multiplex at Bhartiya Mall of Bengaluru at Bhartiya City with a seating capacity of 1343 audiences and premium screen formats, including the fifth 4DX and second P[XL] in Bengaluru.

    PVR enhanced its screen portfolio in Gurugram with the launch of its seventh property in the city and its 12th property in Haryana, Elan Town Centre. This is a four-screen multiplex with a seating capacity of 561 audiences with last row recliners, SP4K laser projectors, Dolby 7.1 audio, and 3D technology.

    PVR chairman and MD Ajay Bijli said, “It is a moment of great pride for us at PVR to reach the 900-screen milestone, which is a result of the support that we have received from our patrons, partners, developers, and our teams over the past 25 years. With the opening of the three new properties in a single day, we have successfully reached 63 screens in our overall commitment of opening 100 screens by FY 2023. As we prepare ourselves for the year ahead, which we believe is the year of cinema entertainment, we are gearing up to enthral our patrons across the country with an out-of-home entertainment experience like never before.”

    PVR added that it pioneered the multiplex revolution in India in 1997 and, over the years, has continued to stay relevant to the evolving preferences of consumers, changing times, and the ever-changing entertainment landscape.

    ‘’It is indeed a momentous day for us as we reached the magical milestone of 900 screens. PVR benchmarks itself with the best in the world and is constantly exploring for invigorating new experiences that are meaningful to audiences. We are now looking forward to the next milestone of 1,000 screens and are fueled with the passion to provide a more delightful cinematic experience to people across geographies and demographics,” said PVR joint MD Sanjeev Kumar Bijli.

  • Poor showing by Bollywood, Hollywood drags PVR to a Q2 loss of Rs 71.23 crore

    Poor showing by Bollywood, Hollywood drags PVR to a Q2 loss of Rs 71.23 crore

    Mumbai: The July-September quarter two 2023 fiscal for PVR was affected mainly because of the poor performance of Hindi movies. Making matters worse was the fact that Hollywood was also disappointed. As a result, it slipped back into a loss of Rs 71.23 crore compared with a consolidated net profit of Rs 53.38 crore in the first quarter of the fiscal ending June 2022. However, the loss was 53 per cent less than the Rs 153.13 crore for the second quarter of the previous fiscal, which had been affected by covid. Admissions and the average ticket price during the second 2023 fiscal quarter were impacted by the weak performance of Bollywood and Hollywood movies.

    Its revenue from operations has fallen from Rs 981.40 crore in the first quarter of the fiscal to Rs 686.72 crore in the second quarter. But it is a big improvement from the revenue of Rs 120.32 crore in the second quarter of the previous covid-impacted fiscal.

    The quarter, PVR noted, was marked by the continued underperformance of Bollywood movies. With the exception of ‘Brahmastra Part One : Shiva, most of the other big budget Bollywood movies performed below expectations, like Laal Singh Chaddha, Raksha Bandhan, and Liger. Brahmastra Part One : Shiva performed exceedingly well at the box office and emerged as the highest grossing Hindi film post-pandemic for PVR, with a net box office contribution of 19 per cent. The underperformance of Hindi films could be attributed to a number of factors, including films released prior to and during the pandemic that did not resonate well with current consumer tastes; content quality driving performance as opposed to star presence; and negative social media sentiments against certain Bollywood movies and stars.

    In Hollywood, the quarter ending September 2022 was the weakest globally in almost two decades, both in terms of the number of movies released and their box office collections. Box office collections for Hollywood movies for PVR dropped by a huge 47 per cent in Q2 FY’23 as compared to Q2 FY’20. Thor: Love and Thunder was the only big tentpole that performed well at the box office as compared to successful tentpoles like The Lion King, Spiderman : Far Away From Home, and Fast and Furious: Hobbs & Shaw in Q2 FY’20.

    If there was a silver lining, it was regional. For PVR, the box office contribution of regional movies increased nicely from 28 per cent in Q2 FY’20 to 44 per cent in Q2 FY’23. Movies like Sita Ramam, Kartikeya 2, Thiruchitrambalam, Rocketry, and Vikrant Rona performed well during the quarter ended September 2022.

    The multiplex exhibition industry on 23 September celebrated “National Cinema Day.” This was envisaged as an industry-wide initiative to welcome moviegoers back to theatres. More than 11 multiplex chains with 4,000+ screens across India participated in this initiative. Customers were offered movie tickets at Rs 75 and discounts on F&B products. PVR welcomed 6.5 lakh guests on this day, which proved to be the busiest day for it in 2022 and the second highest attended day till date with an occupancy of 80 per cent. PVR added that it is also implementing other initiatives to drive admissions back to cinemas.

    PVR added that the current third quarter has started off on a great note with strong responses received to new releases like Ponniyin Selvan – Part 1, Vikram Vedha and Kantara. The content pipeline over the next three months looks extremely promising. It has Bollywood movies that are up for release, like Ram Setu, Cirkus, Thank God, Drishyam 2, Bhediya, Kisi ka Bhai Kisi ki Jaan, Pathan, etc. From Hollywood, it is hoped for a better performance given the tentpoles like Black Adam, Black Panther: Wakanda Forever, and Avatar: The Way of Water. From the regional genre, there are Shaakuntalam, Vaathi, Kushi, Honeymoon, Padavettu, etc. lined up for release.

    PVR has opened 14 screens across three cinemas in the last quarter (24 screens across five cinemas in H1 FY’23) and is fast ramping up its capex plan to open a total of 110-125 new screens by the end of the current fiscal year.

    The announced merger with Inox Leisure, it said, is progressing well. Both the companies have received their respective shareholders and secured creditors’ approval for the proposed scheme of amalgamation. We expect that the NCLT process will be completed in 3–4 months.

    PVR chairman & MD Ajay Bijli said, “We remain focused on driving admissions back to our cinemas. India’s love for movies was well demonstrated by the massive success of the ‘National Cinema Day’. I am confident of a full recovery in the business, driven by the robust content lineup for this year and the various initiatives that we are implementing to rekindle the cinema-going habit amongst our loyal patrons. As we celebrate the silver jubilee for PVR this year, we are extremely optimistic that we will continue to set and exceed even greater benchmarks in the years to come.”

    PVR’s total income rose to Rs 703.13 crore, compared with Rs 275.21 crore in the same quarter of the previous fiscal. The Ebitda for the quarter was Rs 170 crore, almost double the Rs 86.8 crore for the same quarter in the 2022 fiscal. Its total expenses rose to Rs 813.33 crore, compared with Rs 460.68 crore in the same quarter in the previous fiscal.

  • Dark clouds start to clear from theatres: Inox Leisure to witness double-digit growth

    Dark clouds start to clear from theatres: Inox Leisure to witness double-digit growth

    Mumbai: It’s good! The cloud seems to be clearing up for the multiplex operator Inox as it expects to grow by double digits for Q3 FY’22. The fear of covid strained the growth of all multiplexes in the country in the last two years, and Inox was no different. As theatres have opened up, the multiplexes are leaving their gloomy days behind and maintaining a very positive outlook for the future.

    Speaking to Indiantelevision.com, Inox Leisure COO Anand Vishal said, “The box office growth for Q3 FY’22 as compared to Q3 FY’19 will happen on two accounts. Inox screens are up by 20 per cent compared with the same period in 2019. We are now at 705 screens compared to 585 screens in 2019. The plan is to add three more screens during the festive season in Delhi, Mysore and Andhra Pradesh. Ticket prices have improved by 10 per cent. It is another matrix. And with the lineup that is there, we will see strong double-digit growth in this quarter (Q3 FY’22).”

    He emphasised that the overall multiplex industry will also witness good growth. Inox had posted its best-ever performance in Q1 FY’22 due to the theatrical blockbusters from the South and growth in strong audience footfalls. It has reported a consolidated net profit of Rs 57.09 crore for Q1 FY’22, led by rising footfalls at cinema halls.

    He also noted that comparing the Q3 FY’22 quarter with Q3 FY’21 would not be a fair comparison. That is because there were capacity restrictions. In Maharashtra, for example, theatres were operating with 50 per cent capacity restrictions via alternate seating arrangements. Now there are no capacity restrictions. 

    Inox Leisure’s ad revenue growth

    The multiplexes’ advertising revenue is yet to pick up momentum as compared to 2020. He said, enumerating his views on ad revenue growth, “Advertising revenue will be nearly the same as what it was pre-pandemic. The premium categories advertise with us as they want to talk to the relevant audience.” 

    He also stated that revenue from food and beverages has increased by 30 per cent. The expectation is that per-person spending will improve by over 30 per cent in Q3 FY’22 as compared to Q3 FY’19. “These are the broader matrix for revenue mapping,” he explained.

    Earlier, Inox Leisure’s CEO Alok Tandon said that the growth in ad revenue is expected to bounce back from the Q3 FY’22 and Q4 FY’22 due to the festive season.

    Inox’s ad revenue growth has shown a declining trend recently. In Q1 FY’22, it fell to Rs 30 crore as against Rs 47 crore in Q1 FY’20. 

    The market scenario during the festive season

    In terms of markets, Vishal expects the South to take the lead in terms of ticket revenue growth during the festive season. Viewing trends in the South are higher than in the Hindi-speaking market. “But having said that, in the pre-pandemic period, consumption was also higher in the South. We expect the Hindi market to improve. The South will also improve,” he said.

    He is confident about the Hindi movie market, though some films underperformed and disappointed in Q2 FY’22. “We do not control the software. But having said that, the line-up for Hindi films is looking very good. Look at Ram Setu and Thank God, which is a Diwali release. Tamil and Telugu content over Diwali is looking very good.” 

    Other movies he pointed to which could do well include Merry Christmas and Cirkus. On the Hollywood front, he said that Avatar: The Way Of Water was big. Also, there is Black Adam and Black Panther: Wakanda Forever.

    On the promotions front, he said that the aim is to boost the inclusive movie-watching experience as Diwali is a family-gathering season and demands splurges during this time. “We will make an inclusive plan for our consumers where we give them offers and benefits to come to Inox. You can expect a Diwali bonanza for families and people who have indulged in movies.”

    Talking about the success of National Cinema Day, he said that it was done to thank loyal patrons. The pandemic disrupted business and no regular operations happened. There were three waves of covid. Lower ticket pricing was the cinema industry’s way of saying thank you to customers. “The success of National Cinema Day showed that the cinema viewing habits of the consumer are still there.” This day, he said, brought in new customers to Inox as ticket prices were drastically lowered. “A lot of people came to Inox for the first time,” Vishal mentioned. 

    Dynamic ticket pricing

    Further, he added that ticket pricing is also based on the movie, not just the timing or the day. He noted that when Brahmastra was released, the ticket prices were higher compared with other movies. “It is a product that we pay for. Let me give you an example. If Avatar: Way Of Water is playing and another movie is also playing, then the two movies will be priced very differently. If Thank God is playing and another movie is playing, then the pricing will be very different. These three movies cannot be compared to other movies.” He also added that it is important to get the weekday pricing right as the aim is to get all segments of society to watch movies at Inox. This is how dynamic pricing works. Weekday prices for Brahmastra started at Rs 100 in some places.

    He also pointed out that the premium ticket pricing for Brahmastra was a maximum of 10 per cent compared to other movies. Seeing the demand, the consumer’s elasticity is important. The price elasticity ranges from Rs 100-500 depending on the day of the week and the audience segment being targeted. Of course, Insignia screens are expensive because one Insignia seat takes up three seats on a regular screen. “The Insignia experience and service are very different, and it comes at a cost. If a regular seat costs Rs 150, then an Insignia seat will be Rs 350.” Tamil Nadu, Andhra Pradesh, Telangana, and, to an extent, Karnataka are price-capped markets. Other markets are more price dynamic. In Delhi, there are price cards and pricing slots that are approved by the authorities.” Mumbai will have pricing from Rs 100-500 depending on the location. What you charge in Nariman Point cannot be charged in Dahisar. Pricing is also a function of the location, not just the film. You also have to see the pricing of the competition theatres.” 

    Content offerings beyond movies

    He said that beyond films, Inox also targets different consumer sets. For this, it focuses on sports, music, concerts, school contact programmes and e-sports activation. The plan is to do deals to show matches from the upcoming Twenty20 World Cup and the Fifa World Cup. The good news is that this does not cannibalise the attendance of the movie-going public. The consumer of a sporting event is different from the one who consumes film content. The idea is to create a market, not cannibalise it. Why not give people the opportunity to watch sporting events on a big screen? Sports are a very integral part of our marketing plan. Music is also important. Inox is doing a screening of Coldplay on 29 October. “For e-sports, the core target age is 18–25. Inox has a partnership with the E-sports Federation of India (ESFI). These games are healthy games that have been approved and are up to international standards. Matches are screened. The aim is to also find talent to represent India on international platforms.”

    In terms of in-cinema advertising, he said that premium brands use Inox and that avoids wastage. Cinema, he said, is the answer.

    These brands are not focusing on mass reach. It is about relevant reach. Otherwise, it becomes a waste of money. Inox provides relevance for brands like Manyavar, he explains.

    “More than eyeballs, it is the quality of the footfalls we provide that counts. A mobile phone advertiser with a Rs 20k product wants to target the person who has that spending propensity. The advertiser is only targeting a certain audience segment and so it cannot go to the television all the time.” These brands use cinemas, but they will only use premium cinemas like Nariman Point and Atria. They know the target group visits these locations. The likes of Audi and BMW only pick up Insignias and premium cinemas. “The aim is to talk to the direct and relevant consumer,” he added. 

    Licensing & merchandising

    The licensing and merchandising activities started in June 2022. This, he said, is building and is about targeting a community. “Fans who are loyal to franchises like Avengers, Marvel, sports fans, and people who love Inox as a brand can buy something. We wanted to get into this space. We knew it would take time, but traction is building. We hope to do Rs 4-5 crore in sales in the next 12-15 months.” It has a partnership with Macmerise, which supplies the merchandise. They have some Hollywood rights and also some sports rights like IPL. They also develop Inox-branded products like t-shirts, cups, mugs, headphones, and watches.

    Spending on food & beverage

    Talking about the food and beverage strategy, he explains, “These spends have shown a drastic improvement for us and the industry. People are indulging in eating more food items. That is a very healthy sign. It is about what the consumer wants. Inox does have offerings beyond popcorn and Coca-Cola. It is not a blanket offer. The offering in the South is different from Gujarat and in the North. We focus on what people in a region like to eat. For instance, people in the South like to eat puffs. Samosa is very strong in the West as a market.”

  • PVR gets shareholders approval for Inox merger

    PVR gets shareholders approval for Inox merger

    Mumbai: Multiplex operator PVR has received shareholders’ approval for its proposed merger with Inox Leisure. 99.9986 per cent voted in favour of the merger. It was defeated by a margin of 0.0014 per cent.

    Inox, in a filing, said that a meeting with equity shareholders took place. The company sought approval for the proposed merger. The results of the vote are expected to be announced in the coming days.

    The Inox said, “A meeting of the equity shareholders of the company was held on 12 October 2022 at 12 p.m. through video conferencing (VC)/other audio visual means (OA VM) as per the directions issued by the National Company Law Tribunal, Mumbai Bench, vide its order dated 22 August, 2022 and in compliance with the applicable provisions of the Companies Act, 2013 read with rules made thereunder, circular(s) issued by the ministry of corporate affairs and the Securities and Exchange Board of India, for transacting the business mentioned in the notice dated 10 September 2022 convening the said meeting (NCLT Convened Meeting). “

    In March, the two companies announced plans for a merger. Inox had said the merger would bring together two of India’s best cinema brands to deliver an unparalleled consumer experience with a network of more than 1,500 screens.

    Following the merger, Inox promoters will join the existing PVR promoters as co-promoters of the merged entity. According to the regulatory filing on 27, once the scheme is implemented, the board of directors of the merged company will be reconstituted with a total board strength of 10 members and equal representation on the board for both promoter families with two board seats each.

    The company will be called PVR Inox, with the branding of existing screens to continue as PVR and Inox, respectively. Ajay Bijli will be the managing director and Sanjeev Kumar Bijli will be the executive director. Pavan Kumar Jain will be the non-executive chairman of the board.

    Shareholders of Inox will get PVR shares in a pre-approved “swap” ratio of 3:10. Three equity shares of PVR can be swapped for 10 of Inox. Inox will have a 16.66 per cent stake and PVR will have a 10.62 per cent stake in PVR Inox.

  • “We expect cinema advertising to reach close to 80% of its pre-pandemic level”: PVR CEO Gautam Dutta

    “We expect cinema advertising to reach close to 80% of its pre-pandemic level”: PVR CEO Gautam Dutta

    Mumbai: While the fiscal second quarter June-September has been subdued due to the underperformance of Bollywood (apart from “Brahmastra”), multiplex operator PVR is counting on a much better performance during the festive season. It is planning a slew of initiatives to cash in on the season, which will see a return to normalcy in this period after a gap of two years.

    Speaking to Indiantelevision.com PVR CEO Gautam Dutta said, “With an objective to encash on the blockbuster releases during the festive period, PVR will be running many promotions from 10–31 October across its products and services. This would entail special offers on ticket booking, PVR e-gift cards, Diwali gift hampers, and ‘V Pristine’ by PVR for its loyalty base of 1.46 crore privilege members. These will be announced on the PVR social media handle and in our cinemas.”

    Talking about the growth in revenue that PVR expects during the festive season compared to the same period last year, he says that after a rousing start of FY23 with Q1 doing amazing numbers and breaking all-time records in the history of cinemas, Q2 has become subdued, marked by the underperformance of some movies. “We are extremely optimistic about the festive season ahead, as this will be the first time in two years that cinemas will be operating without restrictions. Substantiating these expectations is a big line-up of movies that would hit the theatres, and the rolling back of the usual eight-week theatrical window that has been reintroduced since 1 August.”  

    When asked about inflation being a challenge, he said that in the first quarter of FY23, there has been a strong growth of 23 per cent in average ticket price (ATP which is Rs 250) and 32 per cent growth in average F&B spend per patron (which is Rs 134) as compared to the pre-pandemic period. He added that the spending ratio of F&B to ATP has also increased from 49 per cent to 54 per cent. “This shows that patrons have accepted the increase in ticket prices and there has been an increase in their spending on F&B. The contribution of recliner seats to overall footfalls and occupancy has also increased, indicating that patrons are willing to pay a premium for a more luxurious moviegoing experience. There was a strong bounce-back in theatrical admissions with 2.5 crore patrons visiting our cinemas during Q1 FY23.” 

    Festivals, Gautam explained, are a time when families bond with each other, while cinema is primarily a family entertainment medium, so they complement each other. What encourages him is the fact that there is a festive atmosphere and people are in a buoyant mood and like to eat out and watch movies with their families. Speaking about the big releases lined up across languages, he noted, “There is an exciting movie line up in the October to December period covering all languages and genres, released in multiple formats and appealing to all segments of the audience. These include “Vikram Vedha” (Hindi), “Kantara” (Kannada), Mani Rathnam’s “Ponniyin Selvan” (Tamil, Hindi, Telugu, Malayalam, Kannada), “The Woman King” (English), “Ticket to Paradise” (English), “Goodbye” (Hindi), “Doctor G” (Hindi), Warner Bros “Black Adam” (English), “Ram Setu” (Hindi), “Har Har Mahadev” (Marathi, Hindi, Tamil, Telugu, Kannada), “Prince” (Tamil, Telugu), “Thank God” (Hindi), “Phone Bhoot” (Hindi), Disney’s “Black Panther – Wakanda Forever” (English), “Uunchai” (Hindi), “Drishyam 2” (Hindi), “Bhediya” (Hindi), Disney’s “Avatar; The Way of Water” (English), “Cirkus” (Hindi).””

    When queried about the scene in terms of in-theatre advertising, he pointed out that there has been a gradual improvement in advertising revenue with a 68 per cent recovery in Q1 FY23 as compared to the pre-pandemic Q1 FY20. “Given the fact that we have some big films slated to release in the upcoming festive season, it will serve as an opportunity for us to revive advertiser interest and drive brand partnerships and retail opportunities. Q3, which includes the holiday season, is traditionally a good quarter for advertising surges, and we expect the same this year. We expect cinema advertising to reach close to 80 per cent of its pre-pandemic level and will bounce back and hit pre-Covid levels by the end of Q4.” 

    Offering further perspective, he said that PVR plays with fair equivalence vis-a-vis traditional media in terms of enjoying brand confidence and presence across various sectors of product categories. “Mostly all the relevant and sizable categories are on board with us. FMCG, telecom, e-commerce, ed-tech, BFSI (including fintech), consumer durables, automobiles, apparel, accessories, and jewellery, media entertainment, real estate, and so on are dominant categories. Some mainstream brands include Apple, Oppo, Cred, One Plus, Facebook, Whatsapp, Pepsico, Coke, Dyson, Kotak, Pepsi, Coke, Tata CliQ, Dettol, HDFC, Nippon , WOW etc.”

    On the ticket price front, he pointed out that the pandemic caused unprecedented damage to the film exhibition industry. It has practically remained shut or been allowed to operate partially for two years. In normal course, there would have been a marginal increase in ticket prices every year to match inflationary trends. There has been an increase in ticket prices since there was no increase in ticket prices for two full years. “Our average ticket price for FY 21-22 has been Rs 235, which is marginally more than Rs 204 in the pre-pandemic FY 19-20. Ticket prices are capped in three states, namely, AP, Karnataka, and Tamil Nadu, where we can’t do much. Moreover, they vary as per the category of the movie, show times during the day, weekdays and weekends.”

    In terms of where the growth is coming from, he reveals that over the last decade, the number of malls has increased dramatically. Previously, the development was happening in metros and tier I cities—they are now finding their way into tier II cities as well. “The expansion of multiplexes will also be aided by this deepening footprint. Moreover, there is a lack of out-of-home entertainment options in tier II and III as multiplexes continue to remain the cheapest form of similar leisure activity in India as compared to theme park visits, dining out, and vacations. With such indicators in place, our recent expansion to Narsipatnam, Rourkela, Patiala, and Nizamabad clearly shows our vision and commitment to strengthen our presence beyond metro cities.”

    He added that the company has revived its capex plans in a significant manner and is on track to open a total of 125 new screens during FY23. “We have opened 20 screens across four properties since the start of FY23. We recently opened our six-screen cinema at Hinjawadi, Pune, which includes a P[XL] auditorium that marks Pune’s first multiplex with an extra-large screen. About one-third of the new screen additions in this fiscal year will be in tier II and III cities. The company plans to enter nine new cities during the year.”

  • Carnival Cinemas offers rewards for movie ticket

    Carnival Cinemas offers rewards for movie ticket

    Mumbai: Multiplex chain Carnival Cinemas, founded by Dr. Shrikant Bhasi, on Friday announced that moviegoers will receive assured gifts after booking movie tickets on www.carnivalcinemas.com. The company added that a few lucky winners will get a chance to win free hampers.

    With the aim of encouraging consumers to book their tickets online through the website, Carnival Cinemas aims to establish a strong connection with moviegoers by engaging them through its unique reward activations. The company is consistently setting benchmarks of pioneering innovation across the Indian exhibition.

    This reward campaign initiative is designed to ensure that the customers have the best experience possible. It aims to increase the excitement and anticipation for the upcoming movies. This consumer promotional offer will be available at all Carnival Cinemas theatres across India.

    The reward will be inclusive of free products, vouchers, and food & beverages. Additionally, a lucky winner will be chosen in every show at Carnival Cinemas at their IMAX Wadala theatre.

    On launching the offer for the patrons, Carnival Cinemas director and CEO Vishal Sawhney stated, “We are excited to announce the launch of our new promotional offer for our patrons! With this new scheme, our patrons can enjoy easy and convenient booking options through our website—www.carnialcinemas.com—and at the same time be rewarded for the same. We hope that our patrons will find this new scheme interesting. At Carnival Cinemas, we believe that the consumer is the most important aspect of our business. We strive to provide an excellent experience for every customer who visits our theatres by offering a variety of films to choose from, goodies and services. Our goal is to ensure that each and every person who walks through our doors has a great time and leaves with a smile on their face. We are committed to providing the best possible service and making sure that our customers are happy.”

  • PVR to release ‘One Piece Film: Red’ in India on 7 October

    PVR to release ‘One Piece Film: Red’ in India on 7 October

    Mumbai: PVR Pictures, as part of their exclusive deal with a Japanese animation film distributor in Southeast Asia, Odex will release “One Piece Film:Red” in India on 7 October. It is the 15th feature film in the “One Piece” series.

    Gor Taniguchi’s 2022 Japanese animated fantasy action-adventure film “One Piece Film:Red,” produced by Toei Animation, premiered in Japan on 6 August and ranked first in the Japanese box office in its first weekend. The film sold 1.58 million tickets and earned 2.254 billion yen (about $16.7 million) in its first two days.

    The film is now the #41 film at the Japanese box office of all time. It has become the franchise’s highest-selling and highest-earning film instalment, in terms of both the number of tickets sold and yen earned at the box office.

    The story takes place on an island where Uta, the world’s most popular diva, performs for the first time in public. Uta’s voice, with which she sings while hiding her true identity, has been described as “otherworldly.” Now, for the first time, Uta will introduce herself to the world at a live concert. As the venue fills with all kinds of Uta fans, excited pirates, the Navy watching closely, and the Straw Hats led by Luffy, who simply came to enjoy her sonorous performance, the voice that the whole world has been waiting for is about to resound. The story begins with the shocking fact that she is Shanks’ daughter.